Mazagon Dock Shipbuilders said on September 6 that it has received an order worth Rs 1,486 crore from Oil & Natural Gas Corporation (ONGC), for pipeline replacement related works.
The order for the subsea pipeline replacement project pertains to "Pipeline Replacement Project 8 Group A on EPC reimbursable basis (OBE) at the ceiling price of Rs 1486, 40, 32,996," according to a stock exchange filing.
Mazagon Dock, along with other defence stocks such as Hindustan Aeronautics and Bharat Dynamics have been in focus recently, after the Union government's Defence Acquisition Council (DAC) approved major procurements worth Rs1,44,716 crore for the Armed Forces.
Shares of Mazagon Dock ended at Rs 4,403 per share on the NSE on September 6, down 3.85 percent.
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